Weekly Recap

Weekly funding rose by 37% from $132 million to $180 million, while the total deal count decreased slightly from 23 deals to 21. Funding was relatively evenly dispersed across categories, with four out of five categories raising more than $30 million, except Web3, which saw $8 million in funding. DeFi was the leading category in total funding and deal count, raising $56 million across nine deals.

Series A was the deal stage garnering the most funding, raising $55 million across two deals, including the Deal of the Week, Azra Games. Yellow Card, an African-based payments company, completed a $33 million Series C round, marking only the second Series C round of 2024. Additionally, two companies raised capital at valuations of $100 million or greater: Solv Protocol earned a valuation of $200 million and zkPass at $100 million.

Funding by Category

Funding by Stage

Deal of the Week

Azra Games, a web3 gaming studio, raised $42.7 million in a Series A round led by Pantera Capital, with participation from a16z and NFX. The funding round brings Azra’s total funding to $$68.3 million and will position Azra for rapid growth and innovation as they bring console RPG experiences to mobile. Azra’s Series A round repr...